Governance structure
Company with an Audit and Supervisory CommitteeThis is the number of people reported to the exchange as independent officers. Whether someone is an outside officer and whether they qualify as independent are separate determinations.
The Board of Directors resolved to oppose the 3 shareholder proposals. No change to the corporate structure or other matters has been stated.
| Item | Details |
|---|---|
| Corporate Governance Structure | Company with an Audit and Supervisory Committee |
| Number of directors | 9 directors, including 4 outside directors (if the company proposal is approved at this Annual General Meeting of Shareholders) |
| Number of independent officers | 4 (independent outside directors if the company proposal is approved at this Annual General Meeting of Shareholders) |
| Committee | Voluntary Nomination and Compensation Committee, with independent outside directors in the majority |
| Changes this time | The Board of Directors resolved to oppose the 3 shareholder proposals. No change to the corporate structure or other matters has been stated. |
Items this document does not state (3)
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.Regarding the share repurchase, the proposed amount would substantially exceed the level of annual operating cash flow, potentially restricting growth investments and hindering the improvement of corporate value over the medium to long term. Regarding making outside directors a majority, this would limit the pool of candidates and hinder the formation of a Board of Directors that can respond flexibly to the management strategy. Regarding the change to the record date, this would delay dialogue with shareholders and the start of the new structure and increase administrative burdens and costs, while providing no clear benefits.